Major slowdown expected in U.S. shale oil production

  • Last in a five-part series: Behind the BoomThe shale-oil tsunami that has flooded New Mexico with a wave of petro dollars in recent years may be receding somewhat as U.S. production faces its first significant decline since the gushers began nearly eight years ago.
  • Signs of trouble are showing up in major basins around the country, with a significant drop in drilling rig activity and sluggish growth this year compared with the spectacular bursts of production in recent years that has transformed the U.S. into the world's No. 1 oil producer.
  • A new report released in November by global research and consulting firm IHS Markit says the U.S. is headed for a “major slowdown,” reflecting today's moderate oil prices, investor reluctance to continue pumping huge sums into companies that have shown only modest returns on capital, and significant productivity declines in shale-oil fields.

New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit original link

Mancos ShaleColorado ShaleMarcellus ShaleEagle Ford ShaleShaleOhio ShaleGeopoliticsFarmington New MexicoGovernor of New MexicoNew Mexiconatural gasPermianPermian BasinPermian RegionDelaware BasinWest Texas Delaware Basin USAAlbuquerqueSanta FeArtesiaCarlsbadRoswellMidland BasinNavitas Midstream Midland BasindenverWyomingCongressUnited StatesWorld MarketsWorld NewsDr. Daniel FineDonald TrumpPresident TrumpTrumpThe White HouseWhite HouseDepartment of EnergyDepartment of InteriorDepartment of DefenseDepartment of CommerceBusiness newslatest oil and gas newsindustry newsmexico newsnewsOil And Gas Industry Latest Newsoil and gas industry newsoil and gas newsOil Industry Newsoil newsoilnewsweekly market newsweekly newsweekly news updateweekly oil news

More items from wfine94268

Oil bust could spur natural gas turnaround in San Juan Basin

If Merrion and key industry analysts are correct, there might be a silver lining in the oil crash caused by the coronavirus pandemic — it could end up helping northwestern New Mexico natural gas producers and even give a lift to state revenue in a time of crisis. The potential upside: The drop in ...

Will Fine

Posted 5 months agoLink > San Juan Basinnatural gasoil bust +36

Massive revenue shortfall in new state forecasts

The last time state economists released revenue forecasts, New Mexico had a massive oil boom with no end in sight. Those same economists released dire revenue projections on Wednesday, suggesting New Mexico could take in between $1.7 billion and $2.4 billion less than originally expected during t ...

Will Fine

Posted 6 months agoLink > Santa FeSANTAFENewMexico +58

New Mexico watching as Texas considers limits on oil production

Laws governing oil production in New Mexico stem from the Oil and Gas Act of 1935, which, among many other things, suggests the state can impose statewide caps on oil production, as well as more explicitly allowing it to cap output at specific reservoirs or “pools” of oil to “prevent waste.” If p ...

Will Fine

Posted 7 months agoLink > Dr. Daniel FineFarmington New MexicoGovernor of New Mexico +54

Dr. Daniel Fine & T Greg Merrion on the OIL PRICE WAR and U.S. collapse

Interview with Oil and Gas Expert Dr. Daniel Fine with T.Greg Merrion of Merrion Oil D r. Daniel Fine and T. Greg Merrion of Merrion Oil are experts in their fields.  Dr. Fine raises the fact the oil market was manipulated and explains just how it was done.  T Greg gives an acrual account of from ...

Will Fine

Posted 7 months agoOpinion > oil newsBusinessNewsBusiness news +44

Trump promises oil, gas industry assistance a day after WTI traded negative

Natural gas prices may increase Reducing oil production may have some positive impact on the San Juan Basin. Because the Permian Basin has been producing a surplus of natural gas, and there is no way to send all the natural gas to markets, the San Juan Basin natural gas prices have reached histor ...

Will Fine

Posted 7 months agoLink > Dr. Daniel FineFarmington New MexicoGovernor of New Mexico +27
All posts from wfine94268